performance drives earnings persistence. His findings are consistent with firms with more persistent earnings are fundamentally stronger. Yao (2014) also documents that certain fundamentals – namely the

-China trade war and the depreciation of Yuan (CNY) against US dollar. Besides, the extreme fluctuation of crude palm oil price in end of 2019 affected buying sentiment to be drop as buyers waited for the

to speculate on the exchange rate but continues its prudent policy in the full hedging on net position of each currency’s exposure to minimize potential impact from exchange rate fluctuation. Source

. To manage risk that might occur from the fluctuation in currency and interest rate of long-term a debenture in foreign currencies, the Company has entered into cross currency interest rate swap

potential impact from exchange rate fluctuation. Source : Bank of Thailand Cost of sales and expenses Cost of sales In 2019, cost of sales accounted for 79.5% of total sales, higher than that of 2018 and 2017

CPO in the market, the price has been continuously declined and more severe. The price fluctuation has begun, where the down to THB 20.00 / kg in June 2017. Therefore, the Company’s cost of CPO was

2: Debenture term is 5 years and fixed interest rate at 2.93 % per annum. To manage risks that might occur from the fluctuation in currency and interest rate of long-term debentures in foreign

million baht or represented 71% of total borrowings. To manage risk that might occur from the fluctuation in currency and interest rate of long-term a debenture in foreign currencies, the Company has

total borrowings, decreasing from 69% of fiscal year 2017. To manage risk that might occur from the fluctuation in currency and interest rate of long-term a debenture in foreign currencies, the Company

to the expansion of the electric train network to more outer city locations. In addition, this group of customers has the objective of buying for real residence and there is still fluctuation of demand